Japan's Yasutoshi Nishimura: Q4 GDP demonstrates Japan economy's recovery potential

Japan's economic minister, Yasutoshi Nishimura, has been making statements following the release of the Gross Domestic Product data released earlier on the day.

• Japanese GDP QoQ arrives at 3% vs 2.3% expected and 5.3% prior

Key comments

Will adopt necessary steps flexibly while watching infections and economic impact.

Capex shows signs of bottoming out mainly on machine investment.

Q4 GDP demonstrates Japan economy's recovery potential.

Will swiftly implement measures to support businesses, jobs, people's livelihoods.

Market implications

Theere was little reaction to the data.

The price of USD/JPY has been held-up at resistance and a 50% mean reversion aligns with prior resistance that would be expected to act as support.